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Strata is not four separate protocols. It is a coordinated system of specialized engines connected by shared control planes, liquidity, and data layers. This page describes the engines and — more importantly — the primitives they share.

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The four engines

The division of labor:
  • Money is the control plane — issuance authority.
  • Markets provide liquidity and financial primitives.
  • Credit originates assets.
  • FXN is the financial-engineering layer.

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Shared primitives — built once, used everywhere

This is what makes Strata a system. Three primitives are defined once and reused by every engine.
A MoneyPolicyController and EngineRegistry enforce global caps, throttles, and issuance gating, with multi-engine supply logic. Built first — because every engine eventually touches srUSD issuance, and defining it late would force a rewrite of everything else.
All forks depend on oracle adapters, risk-config registries, and asset- approval frameworks. Shared components include an OracleAdapterRegistry (LlamaLend + FXN), an FxOracleAdapterRegistry (FXN), collateral adapters (Money), and risk-config registries (all engines).Insight: the oracle and risk layer is the real protocol — the forks are just execution engines.
A unified registry pattern indexes every deployed financial object: market registries, engine registries, risk-config registries, and fee-config registries.

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Build order

Because every engine touches issuance, the control plane and shared oracle / risk framework are built before the engines themselves. The forks plug into these planes rather than carrying their own divergent risk logic.
Treating oracle + risk as the protocol — and the forks as interchangeable execution engines — is the central architectural decision. It keeps risk coherent across Money, Credit, and Markets instead of fragmenting it per fork.

srUSD monetary system

The issuance and supply model in detail.

Security & trust

Trust assumptions, ledger integrity, and ownership lineage.